You Are Here: Home » Lifestyle » Home & Garden » Safeguard your income

Safeguard your income

golden nest_egg_17_05_12In these days of recession and economic strife, it is becoming harder and harder to maintain employment. People are losing their jobs and life savings en masse. It is therefore wise to be aware of the number of ways available to safeguard your income and protect your nest egg.

There is a range of insurance packages available that are aimed at safeguarding your income and helping to ensure that your nest egg remains safe if your circumstances were to change unexpectedly in the future.

Of the various types of protection insurance packages available, two of the most popular are the ‘Income Protection Policy’ and also an ‘Unemployment Protection Policy’. Such policies will provide you with fixed payments over a set period of time should your circumstances change in the future and your income diminish.

After an initial assessment a package will be drawn up for you and all you need to do is maintain a regular premium payment, then if your income were to change they would pay out on a regular basis to help make up for the loss and place less of a strain on your savings – as there are many companies offering this package, it is well worth looking into exactly what you are signing up for to ensure you get the best deal for you. Then if you were to lose your job at any point, the insurance company will issue payments for a set period of time on a weekly or monthly basis to help you cope with your loss and not place a massive strain on your savings.

Two of the larger companies that offer this are and, as well as high street names such as As these are common policies and in high demand, the companies offer competitive prices and it is well worth shopping around to find the lowest rates and most suitable package for you.

While such policies are largely based upon your means, some companies will release the policy to you with no proof of income, no need for a medical check and cover a wide range of ages.

Picture credit: Shutterstock

Scroll to top